Globally renowned mobile money transfer platform, Mpesa has marked its 10th anniversary this year.
Mpesa is an innovation that uses technology for people everywhere to transfer money through their mobile phones without their physical presence.
In March 2007, the investment innovation came to life and it has overseen the lift of over 2% of the country’s households out of extreme poverty over its ten years in existence.
Mpesa originated from Kenya and it has seen its circulation over to East Africa as well as South Africa, Afghanistan, India, Romania and Albania
Mpesa is also identified with the rise of other helpful platforms for the ordinary Kenyans who survive at under 10$ per day, with innovations such as Mshwari, a savings and loan system, that allows for one to save and borrow a certain amount of little with regular savings.
Mledger, an expense accountability system that helps one account for their expenditure is another helpful platform all under Mpesa.
A report by KPMG states that customers have, by far, been the largest financial beneficiaries of the platform.
Mpesa has indicated the social value to its clients, grow from 3,202 in 2007 to 9,679 in 2016 showing that the financial benefits to Safaricom foots those of its customers since inception.